Russian retailer X5's earnings up 25 pct in Q1

MOSCOW, April 28 Mon Apr 28, 2014 2:27am EDT

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MOSCOW, April 28 (Reuters) - X5 Retail Group, Russia's second-biggest food retailer, said on Monday its first-quarter net income rose 25 percent, year-on-year, to 2.5 billion roubles ($69.4 million).

Revenue increased 14 percent to 144.2 billion roubles, X5 said in a statement. It said it had changed its presentation currency from the U.S. dollar to the Russian rouble in order to eliminate the effect of exchange rate volatility. ($1 = 36.0280 Russian Roubles) (Reporting by Maria Kiselyova; Editing by Vladimir Soldatkin)

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